this post was submitted on 23 Feb 2024
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Reddit: 'We Are in the Early Stages of Monetizing Our User Base' (www.404media.co)
submitted 9 months ago by DolphinMath@slrpnk.net to c/technology@lemmy.world
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Reddit said in a filing to the Securities and Exchange Commission that its users’ posts are “a valuable source of conversation data and knowledge” that has been and will continue to be an important mechanism for training AI and large language models. The filing also states that the company believes “we are in the early stages of monetizing our user base,” and proceeds to say that it will continue to sell users’ content to companies that want to train LLMs and that it will also begin “increased use of artificial intelligence in our advertising solutions.”

On Wednesday, Reuters reported that Reddit has entered a contract with Google, which will license its content for $60 million a year in order to train Google’s AI models.

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[–] athos77@kbin.social 193 points 9 months ago (17 children)

You know how spez was bitching about how reddit never made a profit? Yeah, now we know why. You know what his compensation was last year? $193,000,000. Fuck that arrogant prick.

[–] tias@discuss.tchncs.de 21 points 9 months ago (8 children)

I can't understand how investors would fall for this. For the sake of humanity and my own mental health I hope they don't. But I have a suspicion they will, and it goes to shows how fucked up the world is.

[–] athos77@kbin.social 20 points 9 months ago (5 children)

It's why they released news of the actual IPO on the same day they released the news of Google buying our data: they want to tie reddit and Google together in the public's mine, make reddit seem better than it is.

[–] tias@discuss.tchncs.de 7 points 9 months ago

I sure as hell hope that my deleted posts aren't part of that data.

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